NEWS Emerita receives gov't approval to drill Iberia West
Emerita Resources Corp (2) (C:EMO)
Shares Issued 196,871,666
Last Close 5/9/2022 $1.70
Tuesday May 10 2022 - News Release
Mr. Joaquin Merino reports
EMERITA RESOURCES RECEIVES APPROVAL FOR LA ROMANERA AND EL CURA DEPOSIT DRILLING, FOUR DIAMOND DRILLS COMMENCING ON ROMANERA
Further to Emerita Resources Corp.'s April 5, 2022, press release, the Territorial Delegation of Sustainable Development of Huelva (Ministry of Agriculture, Livestock, Fisheries and Sustainable Development) of the regional government of Andalusia has granted Emerita the unified environmental authorization (Autorizacion Ambiental Unificada) (the AAU) in respect of the La Romanera and El Cura deposits at the company's wholly owned Iberia Belt West project (IBW). The Company is now fully permitted to execute on its drill program at the La Romanera and El Cura deposits and drilling is commencing as soon as set up is completed.
Initially, four diamond drills will commence delineation of the large Romanera deposit and one will commence on the El Cura deposit. There are 50 drill pads presently permitted on the Romanera deposit and the program there is planned to be at least 15,000 meters of drilling in the initial phase. Romanera is the largest deposit on the property to date and has a historical estimate, calculated by Rio Tinto and available on the Government of Andalusia web site, of 34 million tonnes grading 0.42% copper, 1.1% lead, 2.3% zinc, 44 g/t silver, 0.8 g/t gold. Included within this large sulphide body is 11.2 million tonnes grading 0.40% copper, 2.47% lead, 5.5% zinc, 64 g/t silver, 1.0 g/t gold. The deposit has been drilled along a strike length of approximately 450 meters and to a depth of 350 meters. It remains open for expansion to the east, west and at depth. Emerita's TEM survey indicates the conductor associated with the deposit has strike length of 1.2 kilometers. Refer to news release dated April 22, 2022 for further details. The permit is posted on the Government web site and may be viewed at https://consigna.juntadeandalucia.es/575f1593e80ba6c6e7439399525ec5c4.
According to Joaquin Merino, P.Geo., President of Emerita, "Our field team are very excited to get the drilling started on the Romanera and El Cura deposits. We have established a second core shack in Paymogo, close to the Romanera deposit in order that we can efficiently process a large volume of core from the Project. We are also engaging numerous analytical labs to improve assay turn around time."
Emerita initiated the administrative procedures to obtain the AAU on December 4, 2021 after previously obtaining the Urban Compatibility Reports from the Town Councils of Puebla de Guzmn and Paymogo (Huelva), which are binding and essential for obtaining the authorization. All obligatory public information and consultation periods have now been satisfied and all comments from environmental groups regarding the AAU have been addressed by the Company.
Obtaining the AAU is a key milestone for the continued exploration and development of the IBW Project. The AAU was required to initiate the drilling of the La Romanera and El Cura deposits as they are located in the Natura 2000 Network Area, which is subject to stricter European environmental protection regulations than the eastern side of the Property. Emerita would like to thank its Spanish team and advisors for their efforts in obtaining the AAU.
The AAU includes environmental requirements for the Company aimed at preventing and minimizing environmental impacts, as well as precautions regarding cultural heritage. Emerita is committed to the conservation and protection of the environment and looks forward to working with the people and government of Puebla de Guzmn and Paymogo (Huelva) as it ramps up operations at the IBW Project.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Mr. Joaquin Merino, P.Geo, President of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
A Qualified Person has not done sufficient work on behalf of Emerita to classify the historical deposits referred to above as current mineral resources or mineral reserves and Emerita is not treating the historical estimates as current mineral resources or mineral reserves. The historical estimates should not be relied upon.
About Emerita Resources Corp.
Emerita is a natural resource company engaged in the acquisition, exploration and development of mineral properties in Europe, with a primary focus on exploring in Spain. The Company's corporate office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada.
We seek Safe Harbor.